CECO Environmental (NASDAQ:CECO) Stock Price Down 4.2% – Should You Sell?

CECO Environmental Corp. (NASDAQ:CECO)’s share price was down 4.2% during trading on Tuesday . The stock traded as low as $23.65 and last traded at $24.09. Approximately 30,455 shares were traded during trading, a decline of 89% from the average daily volume of 278,218 shares. The stock had previously closed at $25.14.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. HC Wainwright reissued a “neutral” rating on shares of CECO Environmental in a research note on Wednesday, February 26th. Craig Hallum increased their target price on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of CECO Environmental in a research note on Wednesday, February 26th. Finally, Northland Securities increased their price objective on shares of CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

CECO Environmental Stock Down 4.2 %

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $842.98 million, a P/E ratio of 73.46, a PEG ratio of 1.39 and a beta of 1.43. The firm’s 50 day moving average price is $26.25 and its two-hundred day moving average price is $27.81.

CECO Environmental (NASDAQ:CECO) last released its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business had revenue of $158.60 million during the quarter, compared to the consensus estimate of $156.09 million. During the same quarter last year, the firm earned $0.28 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities research analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard F. Wallman purchased 1,000 shares of the stock in a transaction on Wednesday, February 26th. The shares were purchased at an average price of $25.15 per share, with a total value of $25,150.00. Following the transaction, the director now directly owns 207,117 shares of the company’s stock, valued at $5,208,992.55. This trade represents a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CECO Environmental

Several hedge funds and other institutional investors have recently made changes to their positions in CECO. HighTower Advisors LLC grew its position in shares of CECO Environmental by 25.4% in the 3rd quarter. HighTower Advisors LLC now owns 17,669 shares of the company’s stock valued at $501,000 after acquiring an additional 3,581 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in CECO Environmental by 185.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock worth $6,641,000 after purchasing an additional 152,893 shares during the period. Barclays PLC increased its position in CECO Environmental by 115.0% during the third quarter. Barclays PLC now owns 63,615 shares of the company’s stock worth $1,795,000 after buying an additional 34,027 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CECO Environmental by 1.7% in the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock valued at $19,448,000 after buying an additional 11,857 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of CECO Environmental by 41.6% during the 4th quarter. Van ECK Associates Corp now owns 538,092 shares of the company’s stock worth $16,267,000 after acquiring an additional 158,215 shares during the period. 68.08% of the stock is owned by institutional investors.

About CECO Environmental

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.